The Comox Valley Regional District (CVRD) began the 2021 financial planning process in the summer of 2020 under the Rethink Comox Valley lens which was endorsed by the Board in the spring and directed a review of all 98 services provided by the CVRD to consider how each had been impacted by COVID-19.
On March 30, after extensive reviews, presentations and analysis the CVRD Board approved the consolidated 2021-2025 financial plan.
“The 2021-2025 financial plan provides a net overall tax requisition decrease of 0.64 per cent from 2020, at a total tax requisition of $35,462,275 in 2021 from $35,688,983 in 2020,” explains Kevin Douville, Manager of Financial Planning for the CVRD. “Additionally, the majority of parcel taxes for water, sewer and parks services were maintained at the same 2020 level, with a net decrease of 0.74 per cent. We’ve heard from the community during the pandemic and evaluated all the ways in which we could provide some relief to taxpayers while continuing to invest strategically in integral regional services to support recovery over the short and long term.”
The overall property tax impact to each Comox Valley homeowner will depend on the unique mix of regional district services they contribute to plus other factors such as:
- Fluctuations in a property’s annual assessed value (Based on the revised BC Assessment roll)
- Year-over-year changes in taxation from other jurisdictions/authorities:
- Province of BC (including school and police)
- Vancouver Island Regional Library
- Comox Strathcona Regional Hospital District
- Others (Island Trust, UBID, etc.)
Highlights of capital projects budgeted in the 2021-2025 financial plan include:
- Completion and commissioning of the $126M Comox Valley Water Treatment Plant
- Design and construction of the $73M sewer conveyance project
- Construction of the regional organic composting facility in Campbell River
- Construction of fire halls for both the Greater Merville and Mount Washington fire protection areas
- Completion of up to $790,000 in Aquatic Centre maintenance and capital work during COVID closure period
The impacts of COVID-19 provided an opportunity to Rethink service delivery and determine where cost savings measures could be realized in both the short and long term, as well as determine more efficient and strategic ways to deliver services throughout the region.
“Looking for cost efficiencies, providing regional emergency response, and supporting the most vulnerable in our region has been a core focus for the past year,” explains Jesse Ketler, CVRD Board Chair. “By working together, listening to each other’s needs, and supporting one another, we have created a stronger more resilient community together.”
To learn more about the CVRD’s annual budget process and to review the 2021-2025 service financial plans visit: www.comoxvalleyrd.ca/currentbudget.
The Comox Valley Regional District is a federation of three electoral areas and three municipalities providing sustainable services for residents and visitors to the area. The members of the regional district work collaboratively on services for the benefit of the diverse urban and rural areas of the Comox Valley.
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Manager of Financial Planning